RBC raises Flagstar PT on management and portfolio strength

Brokerage RBC Capital Markets raises PT on regional lender Flagstar Financial FLG.N to $13 from $12

Says the new management team appears capable and understand the importance of task at hand

"We appreciate the company’s conservatively underwritten, rent-regulated multifamily portfolio that has historically endured the peaks and troughs of a business cycle very well," says brokerage

New PT implies ~12% upside to stock's last close

Including session's moves, FLG shares up ~23% YTD compared with a 7.6% fall in the KBW Regional Banking Index .KRX